AlHuda CIBE - Press Release of 6th GIMF

1. Center of Islamic Banking and Economics
6th
Global Islamic Microfinance Forum will be held in Nairobi, Kenya
Forum will be jointly organized by AlHuda- CIBE and Akhuwat for Poverty Alleviation & Social
Development.
17th August, 2016 - (Lahore): 6th Global Islamic Microfinance Forum (GIMF) will convene in
Nairobi - Kenya on 8th
- 9th
November, 2016 to explore and discuss innovative financial inclusion
strategies that can create clear pathways to poverty alleviation.
Mr. Muhammad Zubair Mughal the Chief Executive Officer of AlHuda – CIBE said the 6th
GIMF
will explore how new and effective strategies (according to Shariah Compliant Procedures) be
formulated to alleviate poverty and for economic sustainability.
While narrating the theme and core purpose of 6th
GIMF, Mr. Muhammad Zubair Mughal echoed
his thoughts, saying that poverty is considered one of the common global issues, but most
alarming situation is that major chunk of poverty exist in Muslim countries, as it is considered as
number one agenda of “financial inclusion”. According to most recent estimates, 46% of the
poor population resides in Muslim countries, where poverty trends are alarming. The prime
reason of this staggering situation is the general avoidance from” RIBA” which is strictly
prohibited in Islam. In order to reduce poverty alleviation in Muslim populations, a proper
platform is needed to execute, valuing their cultural and social values, which is possible only
through Islamic Microfinance. The purpose of this forum is to gather the stakeholders under
one platform, to find out the remedy to these problems to give a strong support to rapidly
increasing Islamic Microfinance industry. Participants from almost 35 different countries are
expected to participate in the forum, wherein a large variety of topics will be covered including;
Islamic Microfinance, Financial Inclusion, Rural development, Use of IT in Microfinance, Micro
Head Office: P.O Box. 120867, Dubai - U.A.E, Ph: 00971 55 938 99 00
Pakistan Office:117 - G3, Johar Town, Lahore – + 92 (0)42 - 35913096 – 8
Email: info@alhudacibe.com Web: www.alhudacibe.com

2. Center of Islamic Banking and Economics
Takaful, Rural credit, Small business problems and solutions, Shariah Principles and General
Economic Development.
Dr. Amjad Saqib the Executive Director, Akhuwat also highlighted the objective of this forum, by
articulating that the primary objective of this 6th GIMF, is to assist poor by developing a welfare
society exploring the best techniques from different modes of poverty alleviation practiced
globally. He presented the Akhuwat Model as a successful case and declared that Akhuwat has
so far distributed almost Rs. 25 Billion among 1,323,586 families through “Qarz-e-Hassan”
which in itself is a true model of Islamic Welfare oriented Microfinance system.
The Forum will be followed by Two Days Post Event Workshop on‘’How to Develop, Operate
and Sustain Islamic Microfinance Institutions” dated for November 10 -11, 2016. This
Workshop will cover a variety of allied topics. To learn more about the 6TH GIMF please visit:
http://alhudacibe.com/gimf2016
About AlHuda CIBE:
AlHuda Center of Islamic Banking and Islamic Economics (CIBE) is a well-recognized name in
Islamic banking and finance industry for research, advisory and capacity building over the last
ten years. The prime goal has always been to remain stick to the commitments and provide
state-of-the-art Advisory Consultancy and Education through various well-recognized modes viz.
Islamic Financial Product Development, Shariah Advisory, Trainings Workshops, and Islamic
Microfinance and Takaful Consultancies, etc. Side by side through our distinguished, generally
acceptable and known Publications in Islamic Banking and Finance.
We are dedicated to serve the community as a unique institution providing Services not only in
UAE/Pakistan but all over the world. We have so far served in more than 25 Countries for the
development of Islamic Banking and Finance industry so far.
For further Details about AlHuda CIBE, please visit: www.alhudacibe.com
For Media Contact:
Ms. Shaguftta Perveen - Manager Communications
shaguftta.perveen@alhudacibe.com
Head Office: P.O Box. 120867, Dubai - U.A.E, Ph: 00971 55 938 99 00
Pakistan Office:117 - G3, Johar Town, Lahore – + 92 (0)42 - 35913096 – 8
Email: info@alhudacibe.com Web: www.alhudacibe.com